About
Frank Riedel is a Professor of Economics at the Faculty of Economics, University of Bielefeld, where he has served as Director of the Center for Mathematical Economics since 2009. He is affiliated with the Institute for Mathematical Economic Research, Bielefeld Graduate School of Economics and Management (BIGSEM), and the Collaborative Research Center SFB 1283.
His educational background includes:
- Diploma in Mathematics with minor in Philosophy from Albert-Ludwigs-University Freiburg (1995)
- Doctorate in Political Science from Humboldt University of Berlin (1998)
- Habilitation in Economics from Humboldt University of Berlin (2002)
Professor Riedel's research focuses on economic theory under Knightian uncertainty (ambiguity), where agents face uncertainty about probability distributions rather than just risk with known probabilities. His work examines market behavior, risk measurement, game theory with strategic ambiguity, and general equilibrium theory with social preferences. He has made significant contributions to understanding optimal decision-making under model uncertainty.
His recent publications demonstrate a strong mathematical approach to economic problems, particularly using stochastic analysis and control theory to address questions of optimal consumption, investment, and market equilibrium under ambiguity. The work consistently bridges theoretical economics with practical financial applications, showing evolution from foundational work on Knightian uncertainty to current applications in financial regulation.
His notable scientific achievements include:
- Humboldt Prize for Outstanding Dissertations (1999)
- Feodor-Lynen Fellowship from the Alexander von Humboldt Foundation
- Multiple visiting professorships at Paris Dauphine, Paris Panthéon-Sorbonne, Princeton, and University of Johannesburg
Professor Riedel has secured substantial research funding, including multiple projects from the German Research Foundation (DFG) through 2028, and has supervised numerous doctoral students through the Bielefeld Graduate School of Economics and Management. His current research continues to explore the mathematical foundations of decision-making under uncertainty with applications to financial markets and strategic interactions.
He leads an active research group collaborating internationally, with recent projects focusing on taming uncertainty in dynamic economic systems and recursive utility functionals with intertemporal substitution.
